Section 17
SEC. 17. In case the Board makes a contract with any private concern, association, or corporation for the receiving, handling, custody, and delivery of merchandise for exportation or importation in the port of Manila, as provided in section thirteen of this Act, it shall be its duty to see that such private concern, association, or corporation shall faithfully perform each and all of the conditions of the contract. In case such private concern, association, or corporation fails to comply with all terms of said contract, the Board is authorized to annul or cancel the contract and take the necessary measures for collecting damages for the benefit of any one who may have suffered through such failure, collecting upon the bond or other security furnished by the contractor, in which event the Board shall give the contractor at least sixty days notice of its intention to annul or cancel such contract, stating the reasons therefor, and shall give said contractor an opportunity to be heard in the matter. In case the Board annuls or cancels the contract, it is authorized to award a similar contract to any other private person, association, or corporation, also subject to the limitations and conditions set out in section thirteen of this Act, in which event the contractor whose contract has been annulled, shall immediately transfer and turn over to the said Board the plant and equipment used by him for the receiving, handling, custody, and delivery of merchandise, and shall be entitled to the reimbursement of the value thereof as determined by the Board, in accordance with the market value at the time of the delivery thereof, less a proportionate amount for deterioration.